UPDATE 2022: As of now, the OneCard Lite has been merged with OneCard, which means, there is only one common link to apply for both OneCard and OneCard Lite. You will be offered OneCard or OneCard Lite depending on your eligibility criteria. Click here to Apply.
The OneCard Metal Credit Card is a Lifetime Free Credit Card provided in cooperation with the IDFC First Bank Ltd, Federal Bank, SBM Bank, South Indian Bank, Bank of Baroda. It is a metallic credit card that is suitable for individuals who are new to credit cards and are searching for a credit card with basic characteristics.
Although most metallic credit cards have high annual charges, it is an Entry-level Credit Card which is a lifetime free credit card with zero joining or annual charges. The card provides 5X Reward Points on the top 2 spending categories monthly.
Due to the high demands and very high waiting process for this card, FPL Technologies also issued a new credit card to its users known as OneCard Lite Credit Card. In today’s post, we will be talking about the OneCard Lite Credit Card, its features and how you can apply for the same. Here’s an overview:
Good News! IDFC FIRST Bank has now launched its own credit cards apart from the OneCard: The IDFC Millennia Credit Card, IDFC Classic Credit Card, IDFC Select Credit Card, & IDFC Wealth Credit Card. All 4 cards are Lifetime Free Cards and are given on a pre-approved basis without any documentation. Click on the respective links to find out more details about each card and how to apply. In case you get confused, here’s a Side-By-Side-Comparison to help you out.
Before we begin, let me invite you to our Finance Discussion Community on Facebook: FinTalks. Here we share our experiences and discuss queries related to banking, debit cards, and credit cards, mutual funds, stock markets, and more. We started in September 2020, and at the time of writing this post in June 2021, we have over 7.8k members. A lot of offers and discounts related to credit cards are also discussed here. Click Here to Join FinTalks.
What is OneCard Lite Credit Card?
This metallic Credit Card is issued by SBM Bank (India) Limited in cooperation with FPL Technologies Private Limited. You’ll also obtain a 6.5% interest per year on your Fixed Deposit amount. This card is generally issued for the high waiting list and high demand of OneCard in their platform due to which most of the people don’t get the card easily and have to wait for a certain period to enjoy the features of this card. To resolve this issue, FLP Technologies has provided another alternative to its users known as OneCard Lite Credit Card.
Features of OneCard Lite Credit Card:
- You can get this secured Credit Card through the Fixed Deposit Amount you’ve invested through this card.
- The credit limit on this card will be up to 110%, which is quite higher as compared to credit limits of other banks which provide up to 90% Credit Limit.
- To avail of the credit limit, you’ve to deposit a minimum of 10,000 rupees and a maximum of 100,000 rupees per year as a Fixed Deposit amount and you also get a 6.5% interest rate on the Fixed Deposit amount per year. The FD is secured with SBM Bank.
- The credit score generates from this credit card will help the user to take credit cards from other banks, loans, etc. and it will also improve your Credit Score.
- You can operate the card through a digital platform called OneLite App through which you can pay the bill of your credit card, check the credit score, and also manages the fixed deposit amount provided by this card.
- This credit card is also a lifetime free credit card with no annual charges or joining fees. Also, you get 5X Reward Points on the top 2 spending categories every month.
- You can also avail the facility of EMI through this Credit Card.
- This card also provides a 1% Forex Benefit on international transactions.
- The re-issuance charge for the plastic card is completely free for this card if you’ve lost your OneCard Lite Credit Card but for the 2nd time, they will the re-issuance charges will be Rs. 145.
- You can also use this card to withdraw cash from the ATM in India and/or overseas depending on the compatibility of the OneCard at the said ATM(s).
- You can also refer and earn through the card by sending the referral links to your friends and relatives. The referral links will be sent to all the OneCard activated users which are valid for 30 days.
- The digital virtual card in the OneCard application is a Visa-powered Credit Card that you can use for any type of online or mobile application-based transactions.
How to Apply for OneCard Lite Credit Card?
1. First of all, visit the official page of OneCard Lite Credit Card to apply. (Update 2022: Now this link has been merged with the OneCard link only, you will be offered OneCard or OneCard Lite depending on your eligibility criteria)
2. You’ll redirect to the home page of the OneCard Lite website. Click on the Apply Now option.
3. You’ll again redirect to the Google Play Store (if your Smartphone is Android-based) or Apple App Store (if your Smartphone is iOS-based).
4. Now you’ve to download the OneCard App and install it.
5. When you open the application, there will be a screen with the option of Get Started. Click on 5that option.
6. Now, you’ve to enter your Mobile Number. When you enter the mobile number, they will send an OTP to the same number which you’ve entered before.
7. After the OTP Verification through your Mobile Number, you’ll redirect to the next page.
8. Now, again click on the option Start Application.
9. Now, you’ve to set a four-digit password on the application. If your Smartphone has a fingerprint sensor, you can also enable the option of Fingerprint by clicking on the check box at the bottom of this page and click on Confirm option.
10. Now, you’ve to enter all your details like your first name, last name, gender, and date of birth, and again click on Confirm option. The name and date of birth should be the same as per your PAN Card.
11. After that, you’ve to enter your Current Address for the delivery of that card by entering the details like Pincode, flat/house/building no., street/locality name, etc. and after filling in these details, again click on Confirm option.
12. Now, you’ve to enter your PAN Card Number and click on the Submit option.
13. After that, you’ve to again check all the details which you’ve entered and confirm it once again by clicking on the Terms and Conditions check box. And after this, click on again Confirm option.
14. Now, they’ll fetch your CIBIL Reports automatically, and to access your CIBIL Report, you’ve to enter the OTP which is sent to your registered contact number.
15. After this, you’ve to complete your Digital KYC in the application.
16. Now for the KYC procedure, you’ve to deposit the amount of fixed deposit so that you can access your card. You can add up to a minimum of 10,000 rupees as your Fixed Deposit amount for a year. But you can set the FD Amount as per your preference.
17. After completing all these steps, you can get your OneCard Lite Credit Card in virtual form in the application and the physical card will be delivered to your current location which you’ve described in the application.
Final Verdict
So this is all about OneCard Lite Credit Card. In my case, OneScore is approving my application as I don’t have any credit score yet. You can try it out and let me know how it goes for you. If you have any queries or doubts related to OneCard Lite app then let us know in the comment section. I would love to help you as soon as possible.
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Anuj is a passionate blogger from Bareilly, Uttar Pradesh. Currently pursuing B.sc in Programming and Data Science from IIT Madras. Apart from being an avid learner and a tech enthusiast, he loves playing PC Games and likes to keep himself updated with the latest trends in the tech industry.
